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07.17.08, 17:04 PM General Topics
74 replies
anyone trying to sell their apt in the city? we have had our apt on the market for 3 months...lowered the price by 200k and still no offers. not even low ball offers. it is priced well for location, condition and sq footage so price isn't the issue. just wanted to figure out if anyone else is experiencing the real estate rut in the city. [ Reply | Watch | Flag ]
General Topics 07.17.08, 05:04 PM Flag
 

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I'll pay you $450,000...thats all we can afford! [ Reply | More
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General Topics 07.17.08, 05:05 PM Flag
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i wish i could sell it to you.....trust me [ Reply | More
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General Topics 07.17.08, 05:11 PM Flag
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ha ha me too, we are too broke for NYC! [ Reply | More
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General Topics 07.17.08, 05:25 PM Flag
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Just sold my place for 3x what I paid for it three years ago. On the market for 0 days ... I already had two offers the moment I put it on the market. You need to lower your asking price. [ Reply | More
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General Topics 07.17.08, 05:08 PM Flag
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condo or coop? we have it on the market for 1.3 and it is 1500 sq ft, 3 bathrooms in mint condition...we paid 1.1 2.5 years ago and put 100k into it.... [ Reply | More
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General Topics 07.17.08, 05:10 PM Flag
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Co-op. How many bedrooms? Which neighborhood? Doorman building? How is the maintenance? [ Reply | More
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General Topics 07.17.08, 05:11 PM Flag
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2 bd, 2.5 baths, midtown east, doorman, 1900 maintenance....duplex apt too. i don't get it...eveything is new....we bought a new place because pregnant with 2nd baby and wanted more space. [ Reply | More
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General Topics 07.17.08, 05:13 PM Flag
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what cross streets? [ Reply | More
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General Topics 07.17.08, 05:14 PM Flag
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2nd and 48th.... [ Reply | More
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General Topics 07.17.08, 05:15 PM Flag
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Very ho-hum location ... and far from the subway. Drop the price to $899K and see what happens. [ Reply | More
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General Topics 07.17.08, 05:19 PM Flag
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why would we dropp to 899??? that is nuts...we paid 1.1... [ Reply | More
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General Topics 07.17.08, 05:35 PM Flag
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You paid too much. Now you're stuck. [ Reply | More
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General Topics 07.17.08, 05:42 PM Flag
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She paid $730 / sq ft - doesn't sound like too much [ Reply | More
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General Topics 07.17.08, 06:31 PM Flag
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thank you...people are so negative [ Reply | More
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General Topics 07.17.08, 06:32 PM Flag
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you overpaid [ Reply | More
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General Topics 07.17.08, 05:42 PM Flag
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i bet you live in a 5 story walk-up. [ Reply | More
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General Topics 07.17.08, 05:43 PM Flag
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why do people believe that they are entitled not to lose money in real estate? I'd love to sell my cisco stock for what it was worth in 2001, but hey, them's the breaks. If you paid 1.1 2.5 years ago, it's not worth that much today. Drop it to 1,050,000 and see what happens. [ Reply | More
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General Topics 07.17.08, 08:11 PM Flag
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subway is 4 block away [ Reply | More
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General Topics 07.17.08, 05:36 PM Flag
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np: It's a 5 min walk - that's pretty close! [ Reply | More
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General Topics 07.17.08, 05:46 PM Flag
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np: I lived at 47th and 3rd and LOVED the area. Quiet - no tourists, and a really international flair thanks to the proximity to the UN. I now live in a tourist trap - Bloomingdales, Dylan's Candy Shop - and hate it. [ Reply | More
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General Topics 07.17.08, 05:38 PM Flag
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i love it here too....you can get anywhere for a $7 cab fare and walk everywhere...i don't why people want west village. [ Reply | More
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General Topics 07.17.08, 05:42 PM Flag
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Because it's rooted in history and loaded with architectural gems, unlike the big boring white boxes of the UES. [ Reply | More
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General Topics 07.17.08, 09:51 PM Flag
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Because it's gorgeous? [ Reply | More
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General Topics 07.18.08, 11:20 AM Flag
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ITA. West Village sucks, imo. It's such a tourist trap. [ Reply | More
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General Topics 07.18.08, 12:07 PM Flag
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Only two bedrooms? That could be the problem. And the maintenance is a bit steep. Prewar or Postwar? If it's the typical bland UES postwar shoebox, you're going to have to sweeten the deal considerably. [ Reply | More
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General Topics 07.17.08, 05:15 PM Flag
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the apt is a duplex with 2 balconies...feels like a house...huge storage and marble bathrooms. i don't understand why we don't even get 1.1 offers...at least that tells me that people are looking to buy. if we lower then it will be a slippery slope and people will offer even less...i fell like the news is making people scared. i think once it gets better the rates will go higher maker it more expensive. [ Reply | More
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General Topics 07.17.08, 05:18 PM Flag
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Prewar or postwar? Marble bathrooms aren't always a plus ... they tend to be very architectually vapid and extremely high-maintenance when it comes to cleaning. How big are the bedrooms? Are the two bedrooms on a different level than the living areas? Is the kitchen its own separate room? [ Reply | More
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General Topics 07.17.08, 05:22 PM Flag
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post war....bedrooms upstairs...kitchen big and own room.... [ Reply | More
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General Topics 07.17.08, 05:36 PM Flag
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Well, it's good that the kitchen is its own separate room and not one of those dreadful "open" designs. But postwar is an uphill battle -- no one wants to pay seven figures for "boxy" and boring. [ Reply | More
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General Topics 07.17.08, 05:43 PM Flag
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that's what is crazy..not boxy...2 floors and spiral iron staircase....mini house...doesn't feel like apt at all. why we bought it [ Reply | More
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General Topics 07.17.08, 05:45 PM Flag
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How tall are the ceilings? How defined is the woodwork and mouldings? [ Reply | More
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General Topics 07.17.08, 05:49 PM Flag
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How are marble baths high maintenance? We just moved into a condo with marble baths, and seems to be much easier to clean than our previous tile ones were. [ Reply | More
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General Topics 07.17.08, 06:57 PM Flag
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You cannot use regular basin/tile cleaner on marble because it will pit. You have to use special marble cleaner. And even then, marble stains very easily. Especially gross are blood stains if you cut yourself shaving. [ Reply | More
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General Topics 07.17.08, 09:40 PM Flag
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I knew about the marble cleaner, but that has not been a big deal since we figured out what to buy. Haven't noticed any problem with staining, and in fact, it seems to hold up better than our previous tile bathroom. Go figure! [ Reply | More
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General Topics 07.18.08, 09:19 AM Flag
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2.5 yo was the top of the market - time to drop - this is the reality of a falling nyc re market. it starts somewhere. san francisco prices dropped 27% from last year last month [ Reply | More
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General Topics 07.18.08, 11:36 AM Flag
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I haven't, but a guy with a brownstone around the corner from my old apt tried to sell his brownstone by himself for two years. He got a broker & within two months it was sold above his asking price. I do know that while housing prices haven't gone down in NYC it is taking much longer to sell them. GL [ Reply | More
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General Topics 07.17.08, 05:18 PM Flag
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You shouldn't have overpriced it to begin with [ Reply | More
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General Topics 07.17.08, 05:39 PM Flag
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we had several brokers come in and give estimates...not brokers working for us....then bear scandal and everything else tubling. it is priced perfectly now... [ Reply | More
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General Topics 07.17.08, 05:43 PM Flag
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Well, apparently it's NOT "priced perfectly" if it's been months with no nibbles, while other people's places are selling before they even hit the listings! [ Reply | More
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General Topics 07.17.08, 05:44 PM Flag
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i think it is the price point...i bet people are selling 700k apt... and anything in 7 figures is hard. it is priced perfectly. go to nytimes.com and see what things are priced. [ Reply | More
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General Topics 07.17.08, 05:46 PM Flag
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If it's not selling, it's not "priced perfectly". These people need to accept that their places aren't worth near what they want to be. [ Reply | More
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General Topics 07.17.08, 06:15 PM Flag
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Yes. Put our apartment on the market (UWS) 3 months ago. No offers, last few open houses were almost empty. We pulled it off the market. No urgency to move so we figured we would wait until the financial markets stabilize. We also got nervous about making that big next purchase - want to feel that our job situation is much more secure first. [ Reply | More
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General Topics 07.17.08, 06:24 PM Flag
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[ Removed by moderator ] [ Reply | More
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General Topics 07.17.08, 06:32 PM Flag
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yes. $3M. triple mint gut renovation (published in architecture magazine), perfect condition. Didn't even price it at the top range of what 3 brokers gave us. I think a lot of people are sitting on the sidelines waiting for the storm to pass. Wall Street is a big % of 7 figure apartment purchases. [ Reply | More
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General Topics 07.17.08, 06:34 PM Flag
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what i figured....i think less expensive apt are selling..people in 7 figures are staying longer. i thought that we would be ok because attorneys can afford this place. if we don't sell in 3 months, i think we will rent for a year. [ Reply | More
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General Topics 07.17.08, 06:37 PM Flag
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is this TERC? How is $3M 7 figures? I only count 6 [ Reply | More
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General Topics 07.17.08, 07:00 PM Flag
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Are you dense? 3,000,000 [ Reply | More
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General Topics 07.18.08, 08:36 AM Flag
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I just sold ours FSBO...got offer after 15 days, contract signed a week later....thinking about going into Real Estate.....want me to sell yours?? [ Reply | More
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General Topics 07.17.08, 06:37 PM Flag
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what did you do? was your apt 7 figures? [ Reply | More
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General Topics 07.17.08, 06:40 PM Flag
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1.6, over 2000 sq ft, mtc 2K flower district area/upper chelsea...could have been shear luck though. [ Reply | More
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General Topics 07.17.08, 06:42 PM Flag
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how many bedroom and bathrooms? [ Reply | More
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General Topics 07.17.08, 06:45 PM Flag
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np. I'm trying to do the same! My apt is different than OPs - but a great loc, price, super nice....any tips? We just lowered bc we really do need to sell it. [ Reply | More
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General Topics 07.17.08, 06:41 PM Flag
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FSBO?? [ Reply | More
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General Topics 07.17.08, 06:42 PM Flag
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yes - 1+ in UES [ Reply | More
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General Topics 07.17.08, 06:44 PM Flag
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are you getting a lot of showings? Are you allowing brokers to show the place?? I have a lot of advice based on my experience if you want it. [ Reply | More
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General Topics 07.17.08, 06:46 PM Flag
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Yes I do! I am OK with buyers brokers, but don't have a broker for myself - have done a flat fee MLS and posted in on NYT. Last place I sold I did all the photos, they look nice. If we don't get folks in I'll crumble and get a broker. Would love to save the $ though. [ Reply | More
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General Topics 07.17.08, 06:48 PM Flag
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are you getting a lot of brokers in to see the place and preview it? Is your place on streeteasy, zillow, ardor, homesforowner? I didn't think there was a 'real' MLS in NYC. I had brokers coming in wanting to list it for me as an open listing....and yes, we did end up paying 3% to a buyer's broker. Got only a few showings that weren't through brokers [ Reply | More
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General Topics 07.17.08, 06:52 PM Flag
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most of the calls I've gotten have been from brokers. What is the idea of an 'open' listing? I thought getting an MLS number would but it on their radar enough. I've done Zillow (and an ad), NYT, Owners.com & Realtor.com [ Reply | More
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General Topics 07.17.08, 06:54 PM Flag
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you allow brokers to list it too, sometimes right alongside your NYT ad....some buyers feel funny about calling an owner directly. So basically, for example, my apt was on the BondNY web site with instruction to contact the agent who came to see my place. When someone calls them they are, if they are smart, supposed to ask if they are already working with a buyer's agent and make it clear that they would be bringing them as a buyer's agent. If the person already [ Reply | More
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General Topics 07.17.08, 06:59 PM Flag
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working with a broker then they'd have to tell there broker about the apt and the broker would have to find the owner's listing and call the owner to set up the apt. I suspect that my buyer learned of my apt via another broker's willingness to open list it but then called their broker instead... [ Reply | More
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General Topics 07.17.08, 07:02 PM Flag
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^contact some agents from Bond...they will advertise an open listing for you, also Century 21 and Ardor [ Reply | More
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General Topics 07.17.08, 06:56 PM Flag
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Thanks so much! I appreciate it! [ Reply | More
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General Topics 07.17.08, 06:58 PM Flag
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wait, I'll give you two names of people who were willing to do an open listing... hang on [ Reply | More
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General Topics 07.17.08, 07:00 PM Flag
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ezabala@ardorny.com - his name is Eugene and William from Century 21..wcainey@c21nyc.com [ Reply | More
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General Topics 07.17.08, 07:04 PM Flag
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Eugene was really a nice guy (probably too nice to be a RE broker) [ Reply | More
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General Topics 07.17.08, 07:07 PM Flag
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so I just submitted my info on the Ardor & Bond sites - what does it mean to work with an open broker? Do they take more than 3% if they find someone for you? [ Reply | More
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General Topics 07.17.08, 07:17 PM Flag
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no, you pay them 3% if they bring you a buyer....but you are giving them permission to attach their name to your listing so it may look to an outsider that they are the listing agent. They may put an ad right next to your on zillow for example and if a buyer may call them 1st instead of you (which means you'd pay the 3% vs if they called you direct, you'd pay nothing)... but I think it gets the word out better, your place can get picked up by other aggregating sites like streeteasy where you can only list as a broker. [ Reply | More
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General Topics 07.17.08, 07:30 PM Flag
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I think the spiral staircase, while cool and unique, may be dissuading anyone with small children. I know we wouldn't buy an apt with one, even with 7 and 4 year olds, too much potential for injury. [ Reply | More
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General Topics 07.17.08, 07:06 PM Flag
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And horrible for trying to move furniture. And for old people. And not unique, in New York. [ Reply | More
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General Topics 07.18.08, 11:32 AM Flag
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Right. I'd never buy a post war in that neighborhood for that price, and the spiral staircase is a big turnoff. couple that with reasonably high maintenance and the terrible financial markets and I'm not at all surprised that you've had no offers. [ Reply | More
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General Topics 07.18.08, 01:01 PM Flag
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This is the nature of the market. It is not a sellers market. As people who re buying in cash we have an easier time but then of course our options have grown since the market tanked. [ Reply | More
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General Topics 07.17.08, 07:34 PM Flag
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Link with pics? [ Reply | More
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General Topics 07.17.08, 09:07 PM Flag
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midtown is a less "family-friendly" area and i think right now, the foreign buyers and the empty nesters have put their buying on hold - and midtown is usually very popular with them. I'd think that you could easily get the $1.1, but at $1.3 you might have to be patient. [ Reply | More
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General Topics 07.18.08, 11:27 AM Flag
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We are at 38th & 3rd in a coop bldg, 770 sq ft, not renovated but in good condition, awesome pool on the roof, awesome gym, playroom for kids, lounge/library that's open all the time & you can rent for parties, doorman 24/7, garage in bldg, 1400 in maintenance. We've had it on market with very aggressive seller for 3+ months & have had only one offer that was taken back (for a lot less than we asked for). We 1st asked 675K, now we're down to 635K. Wall Street Journal had a good article on selling your place when you need to fast & one of the tips was set the price at what it will sell, not what it would've sold for 2 years ago. Sad advice, but true. [ Reply | More
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General Topics 07.21.08, 05:37 PM Flag
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